What Do These Have in Common?
- Business publications like The Wall Street Journalor your local Business Journal
- Trade magazines and industry journals
- Podcasts focused on business or leadership
They’re all packed with ideas about improving people, processes, culture, and more. In fact, there’s no shortage of content on these subjects (check the Internet and find someone who will tell you they’ll help you double sales, increase productivity, and lose 22 pounds, all in 30 days).
This is a good thing—helpful, even. I’ll admit it: my own podcast, articles, and blog posts often cover the same ground. So does the content from OneAccord. We try to learn from this advice, apply it, and it works when actually implemented.
But here’s the truth: we often learn better from mistakes—especially when they’re not ours. And when they are ours, the lesson sticks best when we don’t keep making the same ones.
So, let’s look at three recent news stories and explore the real-world takeaways for lower middle market businesses. These examples hit on:
- Financial management
- Attracting and retaining good employees
- Operational dependencies
- Financial Management
Source: WSJ
A well-known organization has long-standing financial problems—cash flow issues, murky records, a culture of secrecy, and even outright dishonesty. The article details numerous key financial issues, many of which small businesses can avoid. As per the Journal, they have problems with, “deficit spending and mismanagement,” a deteriorating balance sheet, “unstainable debt,” and “an atmosphere of suspicion.” They add that there’s been a culture of financial malpractice.
Key Lessons:
Transparency is critical.
Their troubles stem largely from opacity. Think: deficit spending, mismanagement, unsustainable debt, and a general atmosphere of suspicion. So bad that one of their banks cut ties.
Business Point:
Solid financial systems and accurate financial statements aren’t just for tax time—they’re foundational. Without them, you’re in panic mode when things go wrong. Strong systems lead to better decision-making and higher business value. Monitor and manage your key metrics consistently—top line, bottom line, margins, and cash flow.
Because if you don’t, you’ll be like George, whose story I tell in the opening of my book, If They Can Sell Pet Rocks Why Can’t You Sell Your Business (For What You Want?). The short version is, his balance sheet was underwater, income went up and down like a sine wave, and I told him, “Nobody will buyer your business.”
Auditor resistance.
They hired a former Deloitte exec as an internal auditor. He ran into resistance, sabotage (including a break-in and computer theft), and leadership that ignored his recommendations.
Business Point:
This one hits close to home. Too often, business owners hear advice— “Switch from a C-Corp to an S-Corp,” “Improve your pricing strategy,” etc.—but delay action. It costs time, money, and ultimately, enterprise value. Whether the advice comes from a CPA, sales expert, or operations consultant, listen and act.
Blending personal and business finances.
It turns out fell into lifestyle inflation and financial sloppiness. Like others, they got used to an opulent lifestyle.
Business Point:
Keep personal and business finances separate. When it’s time to sell, poor financial hygiene reduces buyer confidence—and price. Paying personal expenses through the business is shortsighted. The tax savings on $100,000 of personal expenses is at most $37,000 (plus any state taxes). If you sell your business for 4-6 times earnings you’re losing $400-600,000, which is taxed at “only” 20%.
Wealth vs. cash flow.
The company has a lot of wealth (tangible assets)—but that doesn’t solve cash flow issues.
Business Point:
Owning $5 million in machinery doesn’t mean your business is worth $5 million if you’re only earning $500,000. Buyers want ROI, not just assets.
- Attracting & Retaining Good Employees
Source: Factory Jobs Go Unfilled Amid Push for U.S. Manufacturing – WSJ, May 20, 2025
The U.S. has over half a million (for those bad at math, that’s 500,000) unfilled manufacturing jobs. The National Association of Manufacturers says it’s the industry’s biggest challenge.
Key Lessons:
Business Point:
Your business’s value is tied directly to the quality of your people—and their staying power. If your industry isn’t naturally attractive, make your workplace one that is. We have a serious problem getting people to work in manufacturing (no matter what those in D.C. say about creating more manufacturing jobs).
Here’s how:
- Clean and safe workspaces: Regulations mean most facilities today are far from dirty or dangerous. One of our clients runs a pristine manufacturing operation, as do many others.
- Flexibility where possible: If hours must be rigid, offer flexibility in other ways.
- Career paths matter: Good employees want advancement. If they can’t grow with you, they’ll grow somewhere else.
- Pay appropriately: And expect productivity to match. You get what you pay for.
Yes, it’s easier said than done. Change takes time, and that’s where OneAccord shines—with long-term support, the right leadership, and follow-through that sticks. Then we help the owner Exit with Style, Grace, and More Money®.
- Dependencies & Systems
Source: Trump Overhaul of Air Traffic Control System Will Cost Billions – Seattle Times, May 9, 2025
The U.S. air traffic system still uses floppy disks and eBay-sourced parts. Over $14 billion has been spent—just to maintain an outdated system.
Key Lessons:
Business Point:
In business, buyers hate looming capital expenditures. Falling behind on systems, tech, and processes kills value. But going overboard on shiny new toys doesn’t help either.
Here are three business stories—two good, one not-so-good at the start:
- A company relied on checks for all payments, which is expensive when labor is considered. The new owner implemented ACH and credit card payments—saving time, reducing labor, and earning millions in reward points.
- A food manufacturer grew to the point he could invest in automation, reducing labor needs and increasing output. The added capacity allowed the company to go after larger contracts than before.
- A not-so-good one: a distribution business owner brought in a friend who was a corporate-style sales consultant. Employees revolted—“We left corporate for a reason.” The lesson? Culture matters. The owner adjusted, added a human touch, and the business quadrupled in seven years.
Back to air traffic control:
Andy Kessler (WSJ) said the fix is already here—GPS, broadband, AI, VR…all underused. The lesson for small businesses? You can move faster than governments or global institutions. Take advantage of that agility.
Final Thought
If you’re running—or advising—a small business, this stuff can feel overwhelming. But remember: you’re probably ahead of multi-billion-dollar institutions like the one mentioned above or the federal government. Less red tape. More action.
So take a breath. Get a plan. Follow the plan. Hire the right guide. Learn from the mistakes of others.
Because when it’s time to exit, you’ll be glad you created a large exit for your small business®.
Both OneAccord and we believe growing is important—but so is building an operating system that sustains growth, earns a higher multiple, and attracts better buyers. This is why we work together.